Legal & General Group Plc bought a new stake in CoreCivic, Inc. (NYSE:CXW - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 230,112 shares of the real estate investment trust's stock, valued at approximately $6,991,000. Legal & General Group Plc owned about 0.23% of CoreCivic as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new stake in shares of CoreCivic in the second quarter worth $52,000. Leonteq Securities AG purchased a new stake in shares of CoreCivic in the fourth quarter worth about $57,000. Smartleaf Asset Management LLC boosted its stake in shares of CoreCivic by 33.0% in the second quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust's stock worth $59,000 after buying an additional 702 shares during the last quarter. Fifth Third Bancorp grew its holdings in CoreCivic by 320.7% during the fourth quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 2,546 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in CoreCivic during the fourth quarter valued at approximately $71,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Mark A. Emkes sold 30,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,027,500.00. Following the completion of the sale, the director directly owned 141,274 shares in the company, valued at approximately $4,838,634.50. The trade was a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony L. Grande sold 29,199 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $33.61, for a total value of $981,378.39. Following the completion of the transaction, the executive vice president directly owned 164,782 shares of the company's stock, valued at approximately $5,538,323.02. This represents a 15.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 439,287 shares of company stock valued at $14,734,193. 1.76% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CXW shares. Benchmark upped their price objective on CoreCivic from $41.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. UBS Group set a $35.00 target price on shares of CoreCivic in a research note on Tuesday, July 7th. Weiss Ratings upgraded shares of CoreCivic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Noble Financial reiterated an "outperform" rating on shares of CoreCivic in a research report on Monday, August 10th. Finally, JonesTrading reissued a "buy" rating and set a $30.00 target price on shares of CoreCivic in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, CoreCivic presently has a consensus rating of "Buy" and a consensus price target of $37.00.
Check Out Our Latest Research Report on CoreCivic
CoreCivic Stock Performance
CXW opened at $32.60 on Thursday. The firm's fifty day simple moving average is $31.72 and its two-hundred day simple moving average is $24.74. CoreCivic, Inc. has a 52-week low of $15.73 and a 52-week high of $34.86. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 26.08 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.86.
CoreCivic (NYSE:CXW - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $684.92 million during the quarter, compared to the consensus estimate of $618.63 million. CoreCivic had a net margin of 5.15% and a return on equity of 9.22%. The company's revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. CoreCivic has set its FY 2026 guidance at 2.610-2.700 EPS. Equities analysts anticipate that CoreCivic, Inc. will post 2.69 earnings per share for the current fiscal year.
CoreCivic announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 15.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
About CoreCivic
(
Free Report)
CoreCivic, Inc NYSE: CXW is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.
CoreCivic's portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.
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